Buying and rehabbing ensures you grow at a pace you control. 

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.

You’re not required to rent to someone just because they look great on paper, but you should ensure that your reasons for declining them are grounded in business-related concerns (e.g., concerns over rental history or ability to care for the property, if documented).A good practice is to follow a consistent screening process for all applicants. 

It is YOUR money and YOUR investment so ensure you do YOUR due diligence.

That said there are some nuances and requirements to property implement interest tracing so ensure you talk to your tax professional ahead of time and keep the funds movement as clean as possible. 

@John BerjIf cash flow is a top priority, factor in HOA fees (common with new builds) and confirm rent comps to ensure the numbers work.

Consult with a tax advisor or attorney familiar with both partnership law and real estate to ensure compliance and minimize tax liability.Once under a TIC structure, 1031 exchanges for individual members could allow them to reinvest proceeds from the sale of properties into new ones without triggering immediate capital gains taxes.

Design a clause in your lease that complies with both and ensures you are protected.

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

If you have a loan, then you will have to get a new loan to buyout and ensure the other party is not on the loan.